Newly unsealed court records in The New York Times copyright case against OpenAI and Microsoft show unusually blunt language inside Microsoft about how AI models were trained. Brent Hecht, Microsoft’s director of applied science, described the practice in an internal memo as an unprecedented and shocking theft, and at one point called it “the biggest labor theft in human history.” The filings also detail internal concerns over traffic loss tied to answer engines such as Copilot. Microsoft’s own data, cited in the case, said referral clicks to The New York Times domain fell as much as 93% compared with traditional Bing search. The documents listed declines of 83% to 93% for The New York Times and Daily News domains, and 51% to 94% for Ziff Davis domains. The case, now part of multidistrict litigation in the Southern District of New York, also includes plaintiffs such as New York Daily News, Center for Investigative Reporting, Ziff Davis, and several book authors. Court filings further describe OpenAI and Microsoft data-sharing arrangements, the scale of copied news content in training datasets, comments about paywalled material, and internal exchanges involving executives including Satya Nadella, Greg Brockman, Nick Turley, Nick Ryder, and Jack Clark. Microsoft said the comments reflected one employee’s personal views rather than legal analysis or company policy. OpenAI did not respond to a request for comment.

S&P Global’s digital-asset strategy has moved well beyond simply tracking crypto prices. Since launching its first cryptocurrency benchmarks in May 2021, the company has steadily built out a broader framework for how on-chain markets can be measured, compared and assessed for risk. That effort has included DeFi-focused index products, a stablecoin stability assessment framework, and direct publication of those assessments on Base through Chainlink’s DataLink service so smart contracts can read them automatically. The pace picked up in 2025. S&P Global Ratings expanded coverage from traditional issuers into tokenized funds such as Delta Wellington Ultra Short Treasury On-Chain Fund, Janus Henderson Anemoy Treasury Fund and OpenEden Tokenized TBILL Fund. In August 2025, it also assigned Sky Protocol a "B-" issuer credit rating with a stable outlook, marking S&P’s first credit rating for a DeFi protocol. By 2026, S&P had added two more pieces. It combined its digital-asset index business with Kaiko to form S&P Kaiko Digital Asset Indices, a suite launched with more than 4,000 reference prices and indices, and later made a strategic investment in Kaiko without disclosing the amount. On Sept. 17, 2026, S&P Global also said it had signed an agreement to acquire smart-contract security firm OpenZeppelin. The price was not disclosed. Together, those moves point to a broader effort to assemble a stack of pricing, risk, data and security tools for on-chain finance.

Zora (ZORA) is scheduled to unlock about 166.67 million tokens at 21:00 Beijing time on Sept. 23, according to token unlock data from Web3 asset data platform RootData. The tokens are valued at about $1.21 million based on the figure cited in the update. The item was published by ChainCatcher as a brief market news alert focused on an upcoming token unlock event. No additional details on allocation, release structure, or circulating supply were provided in the source.

Spacecoin (SPACE) is scheduled to unlock about 255.21 million tokens at 20:00 Beijing time on Sept. 23, according to token unlock data from Web3 asset data platform RootData. The unlocked allocation is valued at about $1.11 million based on the figures cited in the update. The item was published by ChainCatcher as a 7x24 market brief and contains no additional project statement beyond the RootData data point. The report identifies the token as Spacecoin and gives both the unlock time and the estimated value of the tokens to be released.

ChainFeeds Research’s Sept. 16 daily briefing bundled five separate crypto topics into one market and policy readout. The lineup covered StonkFun’s attempt to reshape Solana launchpads through arbitrary asset pairings, an Ethereum second-quarter note that said transaction count and staking rate both hit records while real-world assets remained the only growth segment, a close look at The Standard Reserve’s Genesis Charter economics, a public dispute between 0x and Uniswap over allegedly malicious v4 hooks, and a16z’s case for the U.S. CLARITY Act. The briefing said StonkFun lets issuers pair tokens against assets beyond SOL, including BTC, ZEC, NVDAx, SILVER and meme coins, while adding reward-token mechanics and a fee flywheel tied to buybacks and burns for the top 15 ecosystem tokens by market cap. On Ethereum, the piece said the network remained the largest chain for tokenized assets, with tokenized U.S. Treasury funds on Ethereum reaching a record in the second quarter and J.P. Morgan Asset Management launching a second tokenized money market fund there. The Standard Reserve section detailed 1,000 sold-out Genesis Charters that raised 583.594968887 ETH, while the 0x-Uniswap clash centered on quote spoofing through hooks that allegedly changed pricing behavior during live execution. In policy, a16z argued the CLARITY Act is meant to bring customer segregation, custody, disclosure and conflict rules to digital asset spot markets that lacked them during the FTX era.

PANews argues that Robinhood Chain’s recent surge is about more than meme-stock frenzy onchain. In the past two months, RH Chain has moved into the spotlight as tokenized U.S. stock trading and meme-driven activity accelerated, with daily chain fees at one point topping $6 million, DEX daily volume reaching $3.7 billion, and total value locked nearing $1 billion only two months after launch. Over the past seven days, the network generated about $21.4 million in revenue, according to the article, putting it at the top among public chains for that period. The report says the economics are unusually attractive for Robinhood because RH Chain is an independent Layer 2 built on the Arbitrum stack, using Ethereum for data availability and security while allowing Robinhood to retain control over its own sequencer economics. After accounting for Ethereum settlement and blob costs as well as Arbitrum’s 10% protocol share, Robinhood could keep close to 90% of network revenue, the article says. Even after normalizing for the recent meme surge, PANews estimates annualized revenue at roughly $200 million. The article’s broader point is that RH Chain may reshape how investors view Robinhood. Instead of charging once around a trade, the company could increasingly capture value throughout an asset’s lifecycle across trading, settlement, DeFi, and financial applications. PANews frames that shift as a move from financial product distribution toward deeper blockchain-based financial infrastructure.

The Smarter Web Company plans to issue perpetual preferred shares under the ticker MORE, according to Bitcoin News cited by ChainCatcher. The company is targeting fundraising of £15 million to £25 million, with a minimum raise of £10 million. Admission for listing requires backing from three market makers. Holders of the preferred shares would be entitled to cumulative weekly dividends and liquidation preference, but they would not receive voting rights. The company would also retain the option to redeem the shares. As of mid-2026, SWC held 2,878 BTC. The report added that, following a court-approved capital reduction by the High Court, the company had £132.5 million in distributable reserves available for payments.

Bitget used its eighth anniversary to outline how its Universal Exchange, or UEX, strategy is reshaping the platform across crypto, tokenized assets and institutional trading. The exchange said that at peak periods, non-crypto assets accounted for 40% of total trading volume, while daily volume in TradFi perpetuals and contracts for difference each topped $10 billion. It also highlighted progress in newer products: tokenized stock product rToken surpassed $100 million in assets under management within five weeks of launch, and cumulative trades have now exceeded 3 million. According to the company, one in four new Bitget users now starts trading with rToken. Alongside product expansion, Bitget said it has widened the verifiable asset scope of its Proof of Reserves program from four assets to 24. The company added that its Protection Fund had an average valuation of about $382 million in August 2026. Looking ahead to its ninth year, Bitget said institutional services will become a central priority, with net assets from institutional clients up 45% from the end of 2025 as of the second quarter of 2026, and the number of core active market makers rising from 90 to 248. The exchange also plans to keep upgrading execution quality, API and quant infrastructure, institutional tooling and cross-asset account functions.